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Increasing Demand For a Data Scientist: Is It Worth The Hype?

As a Leading Data Science and Artificial Intelligence Powered Learning and Research Centre, we aim to educate our followers on the importance of what we do.

Presently, there is a global recognition of data science as an integral profession, with an increasing demand for data scientists in various sectors.

The role of a data science professional is one of the most sought after professions, So there is no best time than now to venture into data science.

In this 21st Century, the job of a data scientist is relevant in virtually all sectors of business that involves data, for any business to thrive, they need data.

A study by IBM reveals that 59% of all data science jobs are in Finance and Insurance, Professional Services, and IT.

With the increasing demand for data scientists globally, can we say it is worth the hype?

Let’s Find Out, why there is an increasing demand for data scientists and why it is worth the hype.

What is data science?
Data science, according to Wikipedia, is an interdisciplinary field that employs scientific methods, processes, algorithms, and systems to extract knowledge and insights from noisy, structured, and unstructured data, as well as to apply that knowledge and actionable insights across a wide range of application domains.

IBM also defines Data science as the combination of the scientific method, math and statistics, specialized programming, advanced analytics, AI, and even storytelling to uncover and explain the business insights buried in data.

Why is there an increasing demand for Data Scientists?

As they say, there is no smoke without fire. The increasing demand for a data scientist can be linked to many reasons.

1. Organizations now Understand the Importance of data: Many organizations are beginning to understand the importance of data in building a sustainable business, That’s why organizations go all out to hire a data scientist and also the increasing demand for a data scientist can be linked to the success of how data has changed the modus operands of many organizations resulting to sustainable development.

2. Data serve many purposes: Data scientists are in high demand because that data can serve many different purposes. For example, government researchers use data to make policy recommendations to politicians, clothing companies use customer data to better manage the production and distribution of products, and financial institutions can use data to analyze potential investments.

3. Organizations are facing challenges with handling data: Many organizations generate a huge amount of data every day, it becomes a problem for them to organize the volume of data they generate, so they require an expert help out.

4. Diverse role: The field of data science has diverse roles available for professionals. Data science combines various disciple such as statistics, mathematics and computer scientists. The diverse role available in data science are a data scientist, data analyst, data engineer, data architect and many are all in high demand.

5. Attractive pay: The job of a Data scientist attracts very high pay because companies are willing to pay skilled professionals to do the work.

Importance of data science

1. Find Solutions to a problem: The use of Data enables Organizations to proffer solutions to problems, available data on a specific problem gives an idea of how it can be tackled.

2. Stop Making assumptions: With accurate data, we can stop making assumptions about certain things because data gives a clear insight about a particular claim, it makes us more factual about things.

3. Help organizations to make better decisions: Many organizations rely on data before deciding on what to do because it helps to understand the trends of the market.

4. Data enhances productivity: The productivity of organizations is typically tied to data generated. it makes organizations understand their client in a more enhanced way which will bring about improved service delivery.

5. Data Improves Lives:
Government and other organizations use data as a means to find out what the people are lacking and in return look for ways to provide solutions and improve the lives of people.

Duties of a Data Scientist

A data scientist is in charge of gathering, analyzing, and interpreting information from vast amounts of data.

This procedure is employed to make critical decisions that will improve the growth of an organization.

Listed below are the responsibilities of a data scientist.

To examine data to derive useful information.

Apply data science techniques, such as machine learning, statistical modelling, and artificial intelligence

Recognize the most difficult data-analytics issues.

Obtain enormous amounts of organized and unstructured data from various sources.

Cleans and validates data ensuring accuracy, completeness, and uniformity.

Builds and applies models and algorithms to mine stores of big data.

Analyzes data to recognize patterns and trends.

Interprets data to find solutions.

Communicate findings to stakeholders using tools like visualization.

For a data scientist to stay relevant in the sector there are certain skills they must possess in 2022

Let’s Find out.

1. Programming

As students and professionals in data science, you need to know various programming languages, such as Python, Perl, C/C++, SQL, and Java,

2. Proficient at Working with Unstructured Data

Data scientists must be proficient in working with unstructured data that comes from different channels and sources.

3. Knowledge of Machine Learning
A data scientist must know about machine learning because this technology helps analyze large chunks of data, easing the tasks of data scientists in an automated process.

4. Data Visualization

One of the most important components of being a data scientist is data visualization, a data scientist must know how to break down complex data into smaller, understandable pieces using a variety of visual aids like charts, graphs, and more.

5. Good Communication Skills

Mastering communication skills is very important because as a data scientist, you must know to communicate your finding effectively with team members and during a presentation to professionals.

In conclusion, the hype around the demand for a data scientist is worth it because data is an instrumental component in the operation of an organization.

According to Peter Sondergaard “Information is the oil of the 21st century, and analytics is the combustion engine.” This is a clear statement that data play a very significant role in the development of our society.

With all the above points in this article, we believe that now you know why a career in data science is worth it.

With the increasing demand for data scientists globally, This is the best time to venture into data science.

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